GBPJPY - Getting Ready to Retrace?(short trade) TRADING WITH WEIS WAVE WITH SPEED INDEX

GBPJPY - Getting Ready to Retrace?(short trade) TRADING WITH WEIS WAVE WITH SPEED INDEX

17 September 2019, 09:10
Panagiotis Diamantopoulos
0
49

Setup 1HR chart 

Indicators: Weis Pip Wave, Weis Wave with Alert (+Speed Index) and No Demand No Supply ( https://www.mql5.com/en/users/takisd/seller)

These are the reasons why GBPJPY should retrace:

1. We have hit resistance Level

2. First down wave with high volume

3. High Speed Index on the way up of 72.8 - Hard time to reach Fib area.

GBPJPY 05 before


to be continued....

This Forecast was incorrect (the short trade went only 35 pips down) because we did not read our waves properly.

Point 2. our waveline was not touching correctly swing highs and lows

Point 3. with High Speed Index was the first push up 

Point 5. was a false fast move down with a very Low Speed Index of 6.1 and up we go.

GBPJPY 05 after

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